Question # 1

In the UK under a _________ of the labour force belong to a trade union.

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Quarter

Third

Half

Three quarters

According to the life cycle hypothesis consumption is related to.

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Current income

Past peak income

Expected lifetime income

Price expectations over one's life time

If every elements of a raw or column of a square matrix A is zero, then the value of the determinant .

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Equal

Zero

One

Negative related

The aggregate demand curve shows the combinations of output and the price level that put the economy on.

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The FE line and the IS curve

The FE line The IS curve and the LM curve

The IS curve

The IS curve and the LM curve

Expansionary fiscal policy in the classical model will cause aggregate demand to ______ potential output.

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Exceed

Fall below

Fluclaute around

Remain equal to.

The downward kinked demand curve facing the individual oligopolistic implies that

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He face price certainlty

Competitors have a tendency to follow price decreases but not price increase

Total revenue remains same if a firm increases price

None of these

The negative relation ship between unemployment and inflation is know as the

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Aggregate supply curve

Aggregate demand curve

Philipps curve

Efficiency wage line

How do the banks gain from this corporate behavior.

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More loans can be made

Tax free profits can be made

Interest rates can be increased

By circumvent banking regulations

Rapid increases in the price level during periods of recession or high unemployment are known as.

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Slump

Stagnation

Stagflation

Inflation

An Invention is set to be neutral when it raises the marginal productivities of labor and capital in the same proportion is said by

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Rostow

Todoro

Solow

Haicks

Under land reforms celling of land was set as 150 acres of Un irrigated land by

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Zial ul Haq

Z.A.Bhutto

Nawaz Sharif

None of these

The average total cost when 20 units of output are produced is

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Rs. 2,900

Rs.195

Rs. 20

Rs.900

If a country has a burden of debt it cannot sustain it can.

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Reschedule debt

Get a loan from an international organization

Default on the loan

Any of the above

The% change in quantity demanded due to % change in incomes.

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Price elasticity

Prices cross elasticity

Income elasticity

All of these

Quotas are government imposed limits on the ________ of goods trade between countries.

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Prices

Quantity

Revenue

Costs

Guid up of foreign exchange reserves leads to.

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Decrease in money supply

increase in money supply

contraction in money supply

None of the above

What is embodies sampling.

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Haphazard selection

Numbers

Definite rules

Accuracy

Information collected by the researcher for the purposes of the project immediately

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Secondary data

Qualitative data

Primary data

Quantitative data

Fiscal defect in the budget means.

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Revenue Deficit plus the net borrowings of the government.

Budgetary deficit plus the net borrowings of the government

Capital deficit plus revenue deficit

Primacy deficit minus capital deficit

GDP difference between GNP because.

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GDP = GNP - net factor payments from abroad

GNP = GDP -net factor payments from abroad

GDP = GNP -capital consumption allowances

GNP = GDP -capital consumption allowances.

Logical rezoning process consists of induction and

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Generalization

Deduction

Verifiability

Observation

The term of trade in Pakistan remained unfavorable regarding.

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Industrial sector

Services sector

Agricultural sector

All of these

That the division of labor is limited by the size of the market best applies to which explanation of trade.

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Factor endowment theory

Product life cycle theory

Economies of scale theory

Overlapping demand theory

In a mixed economy the economic decisions of what to produce how to produce, and who will receive products are made by

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The government

Consumers and firms

Banks and stock markets

Firms, consumers, and government.

A decrease in fully autonomous investment other things equal shifts the ______ curve to the

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IS ; right

IS ; Left

LM ; Left

LM ; right

If the rate of growth of a full employment labor forc eis 1.55 and 2.55 then the celling rate of growth of real GNP, according to Hick's theory of a constrained business cycle,is.

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1.5 %

2.55

4.0%

1.7%

To help developing nations strengthen their international competitive rises many industrial nations have granted non nations udder the .

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International commodity engravement's program

Multilateral contract program

Generalized system of preferences program

Export led growth program

Which of the following changes shifts the long run aggregate supply curve to the right.

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A demographic change that increases the labor supply

A decrease in the demand for labor

An increase in consumer confidence

A decrease in taxes

One of the following has more elastic demand.

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A commodity with substitutes

A commodity having more than one use

A commodity commonly use

None of these

An expansionary monetary policy

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Reduces interest rates

Increases real output

Shifts the LM curve to the right

All of the above

In the Keynesian cross diagram, an expenditure causes the aggregate demand function to shift _________ and the equilibrium level of aggregate output to.

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up ; rise

up ; fall

down ; rise

down ; fall

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